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Hungarian Prime Minister Peter Magyar said he expects to finalize a political agreement with Ursula von der Leyen over the release of billions of euros in frozen European Union funds during talks in Brussels.

The negotiations focus on unlocking financial support that had been suspended under the previous government led by former Prime Minister Viktor Orban due to long standing EU concerns regarding corruption, rule of law standards, and judicial independence.

Hungary is seeking access to approximately 6.5 billion euros in EU recovery grants and 3.9 billion euros in low interest loans before a critical August deadline. Additional structural funds worth around 7 billion euros also remain frozen.

The talks come at a crucial moment for Hungary’s economy, which has struggled with weak growth, fiscal pressure, and budgetary strain over the past three years.

Why It Matters

The potential agreement carries major economic and political significance for both Hungary and the European Union.

For Hungary, securing the release of EU funds is essential to stabilizing public finances, supporting economic growth, and restoring investor confidence. The country’s economy has experienced prolonged stagnation, while high spending pressures and limited fiscal flexibility have increased urgency around external financing.

For the European Union, the negotiations represent an important test of how Brussels balances financial support with enforcement of democratic and governance standards among member states.

The dispute over frozen funds has become one of the most prominent examples of tensions between the EU and governments accused of weakening judicial independence or failing to address corruption concerns.

A successful agreement could signal improving relations between Brussels and Hungary after years of political friction under Orban’s leadership.

Key Stakeholders

Hungary’s Government

Prime Minister Peter Magyar is under pressure to secure financial relief while also demonstrating willingness to meet EU governance expectations.

European Commission

The European Commission must balance political compromise with maintaining credibility on rule of law enforcement and anti corruption standards across the bloc.

Hungarian Economy

Businesses, investors, and public institutions in Hungary are closely watching the outcome because EU funding plays a major role in infrastructure, development, and economic stability.

European Union Member States

Other EU governments are monitoring the negotiations as they could shape future disputes involving rule of law conditions and access to EU financial support.

Analysis

The negotiations reflect a broader shift in Hungary’s relationship with the European Union following the political transition away from Viktor Orban’s administration.

Under Orban, disputes with Brussels became increasingly confrontational, particularly over democratic governance, judicial reforms, media freedoms, and corruption allegations. Peter Magyar appears to be pursuing a more pragmatic approach focused on rebuilding trust with EU institutions while securing urgently needed economic support.

However, the remaining disagreements over anti corruption measures suggest Brussels still wants stronger guarantees before fully releasing funds. This highlights the EU’s growing willingness to use financial leverage as a tool for enforcing governance standards within member states.

For Hungary, the pressure is primarily economic. Frozen EU funds have limited the government’s financial flexibility at a time when growth remains weak and fiscal conditions are strained. Unlocking the money would provide both immediate economic relief and an important political victory for Magyar’s government.

At the same time, the negotiations also carry symbolic importance for the EU itself. Brussels will want to demonstrate that compromise does not come at the expense of accountability, especially after years of criticism over democratic backsliding within the bloc.

Future Outlook

If a political agreement is finalized, Hungary could begin unlocking critical EU funding in the coming months, easing fiscal pressure and improving economic confidence.

However, implementation will remain important. Brussels is likely to continue closely monitoring Hungary’s anti corruption reforms and governance commitments before fully releasing all frozen funds.

A successful deal may also help normalize Hungary’s relationship with the European Union after years of tension, potentially opening the door for broader cooperation on economic and political issues.

At the same time, the outcome could influence future EU disputes involving rule of law conditions and financial oversight, particularly as Brussels increasingly links access to funding with governance standards.

For Hungary, the immediate priority remains economic stabilization. But politically, the negotiations may also determine whether Peter Magyar can establish a more cooperative and sustainable relationship with Europe while distancing his administration from the confrontational legacy of the Orban era.

With information from Reuters.

Mauricio Pochettino has held initial talks with AC Milan to become their next manager following Massimiliano Allegri’s sacking.

The 54-year-old Argentine is currently preparing for the World Cup with the United States, but his contract expires after the tournament.

Pochettino’s immediate focus is on this summer’s finals, which begin on 11 June and are being co-hosted by the US, Canada and Mexico, but an eventual return to club football may interest the former Tottenham and Chelsea head coach.

However, speaking after training on Thursday, Pochettino replied “no” when asked if he had met with AC Milan’s management before being opaque about his representatives’ dealings with the Serie A side.

When asked if his representatives had had a meeting, he replied: “Maybe, possible, because they need to do their job.”

He added: “If I met someone, what happened? What is going to change if I met someone?

“We have friends everywhere and my representative works for me into trying to find the best possibility for the future. That is normal.”

Pochettino said he and US Soccer Federation chief executive JT Batson had discussed the possibility of him staying.

“He asked if we are open to listen [to] the project of the federation for the next four years,” said Pochettino.

“And we said of course we are open. Do you think that if we have a commitment with another people, we are going to waste time to listen?”

Batson said Pochettino has been “incredibly transparent” about approaches from other clubs, right from when they first met a couple of years ago, and that “there were lots of people interested in Mauricio and his team”.

Batson added: “He had standing offers from other places and he wanted to be here. He’s a big believer in what we’re doing at US Soccer. He’s a big believer in soccer in America, and he’s a big believer in this men’s team.”

Pochettino’s last club spell was as Chelsea boss for the 2023-24 season, with the Blues finishing sixth in the Premier League and losing the Carabao Cup final to Liverpool.

Before that he was at Paris St-Germain for a season and a half, winning the Ligue 1 title and French Cup.

He also had a five-and-a-half-year spell at Tottenham and reached the 2019 Champions League final, only for Spurs to lose 2-0 to Liverpool.

Pochettino, who has also managed Espanyol in Spain and Southampton, was a defender during his playing career and made 20 appearances for Argentina.

AC Milan sacked Allegri earlier this week after failing to qualify for the Champions League, in a season the club’s hierarchy described as an “unequivocal failure”.

Milan dropped from third place to fifth in Serie A after a 2-1 home defeat by Cagliari on the final day to miss out on the elite European competition for the second year in a row, although they did secure a Europa League spot.

A mastermind of Trump’s hardline Latin American policies, Mauricio Claver-Carone no longer serves in the administration. But according to well-placed sources, he’s “picking who can operate” in Venezuela, controlling access to the government, and creating conflicts of interest.

Speaking with reporters on May 21, US Secretary of State Marco Rubio announced that Venezuelan President Delcy Rodriguez was on her way to New Delhi to discuss energy issues, and that he would be in India as well.

“This is an important trip, I’m glad we’re able to do it,” Rubio chirped after explaining the trio of nations would discuss how to increase Venezuelan oil sales to India.

His statement — and his announcement of Rodriguez’s trip before she had — perfectly illustrated Washington’s newfound dynamic with the Venezuelan government. Following over twenty years of hostile relations with Venezuela’s socialist-oriented leadership, the US Secretary of State was apparently so intimately involved with day to day affairs in Caracas that he was claiming responsibility for Rodriguez’s international itinerary.

In fact, according to an insider who enjoys close contacts within both the Venezuelan and US governments, Rubio’s influence over Rodriguez is said to be traced to one “gatekeeper”: former Trump Latin America envoy Mauricio Claver-Carone. “Mauricio [Claver-Carone] is picking who can operate and Delcy [Rodriguez] is taking instructions,” the source told The Grayzone. 

A former senior US official with access to leadership in both Caracas and Washington offered the same assessment, remarking to The Grayzone, “Mauricio’s calling the shots on private sector economic positions, and if anyone wants in, they have to go to him.”

Hand-selected by former National Security Advisor John Bolton to serve as his Latin America charge during Trump’s first term, Claver-Carone no longer occupies an official governmental role. Instead, he has leveraged his legacy in the public sector to establish a Miami-based investment firm called the Lara Fund which could become a key player in the MAGA financial feeding frenzy in Caracas.

Described by the New York Times as the “architect of Trump’s tough Latin America policies,” Claver-Carone is a Cuban-American regime change zealot who once engaged in fisticuffs with Cuban diplomats as a young man. During Trump’s first term, he unleashed a financial “flamethrower” on Cuba, issuing scores of new sanctions that unraveled the Obama-era normalization policy and plunged the island back into economic misery. 

Claver-Carone has similarly masterminded many of the policies that define Trump’s relationship with Venezuela, from its recognition of the previously unknown Juan Guaido as the country’s “interim president” to the deportation of hundreds of Venezuelan migrants from the US to El Salvador’s maximum security CECOT prison. Many of those migrants had been prompted to journey to the US by the economically crushing sanctions unleashed at Claver-Carone’s direction. 

The Grayzone’s sources described the Trump veteran as the architect of the military invasion that saw Maduro spirited away to a federal penitentiary and installed Rodriguez as president following a stand-down by Venezuelan security forces.

“If he was in charge of implementing the kinetic side, maybe [Rodriguez] thinks she has to listen to him on finance,” the Venezuela insider said of Claver-Carone.

A report this January by investigative journalist Aram Roston described Claver-Carone as a “key backer” of Rodriguez following Maduro’s abduction, and cited sources who claimed he exercised decisive influence over Venezuela policy despite having left the administration.

Claver-Carone is now said to be at the heart of the most sensitive and consequential task Venezuela faces: the restructuring of its $170 billion in defaulted sovereign debt. Forced from several previous positions by corruption scandals and rancorous clashes, an operative with no official governmental position appears to be shaping the economic contours of Project Venezuela. 

“He’s got a lock on everything”

This May, the US Treasury Department authorized Caracas to hire a financial advisor to assist with the herculean task of restructuring its debt. The Venezuelan government selected Centerview Partners, a top-drawer investment and financial advisory firm based in New York City.

According to the former US senior official, Claver-Carone’s romantic partner and business colleague, Jessica Bedoya, boarded a private jet to Caracas soon after the big announcement, arriving with a top advisor from Centerview. It was her second trip to the Venezuelan capital, they said, after visiting in February to discuss financial matters. 

Claver-Carone did not respond to calls to his personal phone from The Grayzone, or to detailed questions sent by text and email. 

His partner, Bedoya, is the founder of the Lara Fund investment firm where he serves as managing partner. Her bio notes that she has also worked in the CIA and National Security Council.

Some insiders worry that her reported presence in the Venezuelan capital, together with Claver-Carone’s outsized influence, could represent a conflict of interest, allowing them to steer debt restructuring agreements to their own personal benefit.

“Now he’s got a lock on everything,” the Venezuela insider said of Claver-Carone. “He could say to anyone who wants to work in Venezuela, I’m the guy. I have the keys. If you want to play ball, invest with me.”

The former US official said Claver-Carone was raising capital for his Lara Fund while he served as a special government employee at the State Department. While Bedoya was running the firm, they said Claver-Carone was leveraging his position inside the Trump administration to pitch potential investors.

“Arbitrary and authoritarian actions that showed him to be a real thug”

When Trump appointed Claver-Carone to serve as the first American president of the Inter-American Development Bank (IDB) in 2020, he hired Bedoya as his chief-of-staff. The couple’s secret romance at the bank triggered an embarrassing ethics investigation after a hand-written contract was discovered showing they had agreed to pursue “absolute happiness,” and included a clause with punishments including “candle wax and a naughty box” if either party breached the deal. 

An independent probe ordered by the IDB discovered that Claver-Carone had increased his paramour’s salary by 40% – a $133,000 reward in less than a year. Investigators also found that the couple had racked up expenses on an IDB credit card during romantic getaways. 

Claver-Carone refused to participate in the investigation while accusing its authors of “fabrications.” In the end, IDB governors voted unanimously in favor of his firing. The US government endorsed their decision.

“President Claver-Carone’s refusal to fully cooperate with the investigation, and his creation of a climate of fear of retaliation among staff and borrowing countries, has forfeited the confidence of the bank’s staff and shareholders and necessitates a change in leadership,” they wrote.

The Argentine governor of IDB, Guillermo Francos, delivered a similarly harsh assessment of Claver-Carone’s tenure. “Claver was a disaster for several reasons,” Francos remarked in 2022. “For having an inappropriate relationship, for having disproportionately increased the salary of this inappropriate relationship, for having lied, and for these arbitrary and authoritarian actions that showed him to be a real thug.”

When Claver-Carone returned to the second Trump administration, it was not long before his proclivity for conflict jeopardized his position.

Throughout 2025, Claver-Carone’s spiteful attitude reportedly complicated Trump administration attempts to prop up a key right-wing ally in South America, Argentine President Javier Milei. Milei’s chief of staff happened to be Guillermo Francos – the former IDB governor whom Claver-Carone held personally responsible for outing his secret relationship with Bedoya. According to the Argentine paper Clarin, Claver-Carone attempted to retaliate by unsuccessfully pressuring Milei to fire Francos. He then attempted to undermine a major IMF loan package to Argentina by demanding the country first sever its credit line from China. This was met with an apparent rebuke from Treasury Secretary Scott Bessent, who visited Buenos Aires to express confidence in the IMF loan just weeks after Argentina’s central bank extended its credit line from Beijing.

The following month, in May 2025, Claver-Carone announced he was leaving the State Department to return to his Lara Fund. His departure gave the appearance that he had been forced out of his job. However, he maintained his clout through his direct line to Rubio.

The former US official told The Grayzone that Claver-Carone is now angling to become a Cuban American version of Jared Kushner, the Trump son-in-law who has leveraged his proximity to the president and role as Middle East negotiator to rake in billions from Israel and several Gulf monarchies despite having no official government title. To do so, he has allegedly inserted himself into the byzantine process of restructuring Venezuela’s debt.

When the Trump administration announced that Venezuela could hire a financial advisor to assist with its sovereign debt, Rodriguez initially planned a public bidding process for the coveted position. But then, according to the ex-US official, Claver-Carone issued support for Centerview, leading to the firm’s selection. (Opposition bloggers have speculated that Centerview was chosen because one of its partners, Matthieu Pigasse, is a self-described “pro-market socialist” who previously worked on deals with Maduro and Venezuela’s state owned PDVSA oil company.)

In recent weeks, according to sources, Claver-Carone has attempted to undermine financial advisors who had been working with the Venezuelan government to restructure its debt since 2014. 

They said that when Claver-Carone’s partner, Bedoya, arrived in Caracas this month, allegedly on a private jet with Pigasse, she began pushing to remove the advisory mandate from David Syed, a seasoned French lawyer who had advised Caracas on debt-related issues for over a decade, and is considered incorruptible. 

“The effort to push [Syed] out created a lot of tension,” remarked the Venezuela insider. “You can’t understand debt restructuring by parachuting in without his knowledge.”

Syed did not respond to The Grayzone’s request for comment. Hamouda Chekir, another Centerview partner who works on Venezuela’s debt, did not respond to calls and text messages sent to his personal phone.

Scandal-stained firms as vehicles for extracting profit from Venezuela

Just before leaving the State Department in May 2025, Claver-Carone convinced Rubio not to renew a sanctions waiver that allowed Chevron to sell Venezuelan oil in the US market. In doing so, he eliminated a mechanism which was explicitly designed to promote transparency and prevent local officials from skimming cash. 

This January, after abducting Maduro, the Trump administration granted confidential licenses to a pair of notoriously corrupt trading houses, Vitol and Trafigura, to export Venezuelan oil. The deal came months after Trump’s re-election campaign received a whopping $6 million donation from a senior trader at Vitol. 

Robert Bachmann, an analyst at the Swiss watchdog Public Eye, told the Washington Post at the time, “Trump is taking advantage of firms that know how to circumvent regulation.”

Both companies had been caught engaging in a series of elaborate bribery schemes across Latin America and Africa. In 2020, the Department of Justice (DOJ) forced Vitol to pay a $135 million penalty for bribing officials for licenses in Mexico, Ecuador and Brazil. Trafigura paid a similarly staggering fine in 2024 for a lucrative bribery scheme in Brazil. In the US, Vitol was rung up by the California Attorney General for manipulating spot market prices of oil.

But almost as soon as the Trump administration entered office, it neutered the DOJ corrupt foreign practices division charged with enforcing the judgments against Trafigura and Vitol on the grounds that it was “impeding America’s national security objectives.” 

Now, the profits these scandal-stained firms generate through oil sales abroad – including to Israel – are channeled back into a US-run account with little public oversight. A percentage of sales is then delivered back to the Venezuelan government. Where the rest goes is anybody’s guess. 

“The Venezuelans are the owners of the oil, and we know nothing. There is no transparency,” said José Guerra, an economist aligned with the Venezuelan opposition, complained to the Washington Post about the Trafigura and Vitol licensing agreements.

Trump, for his part, has essentially admitted Venezuelan oil profits are channeled into a slush fund for his international rampage. “We’ve taken out so much oil in Venezuela, we’ve paid for the cost of the war [with Iran] about 25 times over,” the president boasted during a May 23 campaign rally. While the president’s claim was absurd, as Venezuela is currently exporting only about one million barrels of oil a month – hardly enough to cover a full day of warfare – it revealed his avaricious attitude toward the entire operation.

Among certain Venezuelan opposition activists, Claver-Carone has become a figure of contempt who is partially blamed for Trump’s declaration that their de facto leader, the coup plotter and Nobel Peace Prize winner Maria Corina Machado, “doesn’t have the support within, or the respect within, the country.”

The Trump administration’s embrace of Delcy Rodriguez, and the Venezuelan president’s faithful compliance with Washington’s financial schemes, have prompted some top Democrats to adopt Machado as a partisan cudgel. This January, Chris Murphy, a ranking Democrat on the Senate Foreign Relations Committee, praised the opposition leader as “impressive” following a meeting on Capitol Hill, while taking a nasty swipe at Rodriguez. Machado “reminded us that Trump replaced Maduro with Maduro’s head of torture,” Murphy proclaimed.

If the Democrats take Congress after this year’s midterm elections, the Trump administration’s dealings in Venezuela will face intense scrutiny from the House Oversight Committee. Bipartisan pressure will then build for fresh elections to usher in a new government. “Delcy Rodríguez is a terrible person,” the regime change-obsessed Florida Republican Sen. Rick Scott told the Wall Street Journal this month. “We’ve got to have an election soon.”

In the meantime, a flock of MAGA-aligned financial vultures has swooped into Caracas to feast on the petro-state’s post-Maduro carcass. Donald Trump Jr. is said to be hunting for opportunities in the capital for his 1789 Capital fund, while a startup backed by pro-Trump tech oligarchs Peter Thiel and Palmer Luckey, Erebor Bank, just struck a lucrative deal to reconnect Venezuela’s central bank to the global economy. In the midst of this frenzy, a figure with no government title, Claver-Carone, appears to be establishing the new pecking order.

The views expressed in this article are the author’s own and do not necessarily reflect those of the Venezuelanalysis editorial staff.

Source: The Grayzone

Al Jazeera’s Heidi Pett reports on the Syrian legislative elections in Hasakah and the town of Kobane – areas recently reintegrated under government control after being held by pro-Kurdish fighters for more than a decade.

Pakistan Interior Minister Mohsin Naqvi met Iranian President Masoud Pezeshkian in Tehran to discuss regional security and bilateral ties.

The talks also focused on growing tensions between Iran and the United States following the collapse of Pakistan-mediated negotiations

The administration of United States President Donald Trump has hosted a nine-hour prayer event on the National Mall in Washington, DC, as part of its efforts to commemorate the country’s 250th anniversary.

Sunday’s event was called “Rededicate 250: A National Jubilee of Prayer, Praise and Thanksgiving”, and it took place from 9am to 6pm Eastern US time (13:00 to 22:00 GMT).

On the jubilee’s website, organisers explained that their aim was to mark “rededication of our country as One Nation to God”.

The event featured performers, pastors and civil rights leaders, as well as Trump’s Republican allies, among them Senator Tim Scott of South Carolina.

“Our rights don’t come from the government,” Scott told the crowd. “No, our rights come from God, the king of kings.”

Members of the Trump administration, including the president himself, also recorded video messages that were broadcast from the stage.

Trump’s video showed him seated behind the Resolute Desk in the White House, reciting a speech from the Book of Chronicles that God gave to King Solomon, promising protection to his followers and destruction to those who forsake him.

Secretary of State Marco Rubio, meanwhile, used his video to describe the US as a country uniquely shaped by the “Christian idea”.

“Before the Christian West, most societies – and civilisations, for that matter – thought in stagnant cycles: the flooding of the Nile, the return of the rains, the cycle of the harvest. History for them was a wheel to nowhere,” Rubio said.

“But our faith calls us outwards into the limitless darkness of the unknown. It tells us to go forth and preach the gospel to the world as a witness unto all nations and to the ends of the earth.”

The event was not without controversy, though. Critics pointed out that only one speaker, a rabbi, was non-Christian.

Some religious leaders even rejected the event as a political stunt, rather than a sincere testament to faith.

Paul Raushenbush, a reverend and president of the Interfaith Alliance, posted on social media that his objections did not stem from an “antipathy towards religion”. Rather, he said his faith compels him to cherish the “rich tapestry of beliefs” that come together in the US.

“Rededicate 250 is a betrayal of America’s founding values guaranteed in the First Amendment – which made clear that there shall be no establishment of religion by the government and that each one of us should be free to live out our beliefs in our own way,” Raushenbush wrote.

Traditionally, the Establishment Clause of the US Constitution has been interpreted as prohibiting the government from establishing or imposing religious beliefs on its citizens.

But critics argue the Trump administration has blurred the separation between church and state, including by having regular prayer services at the Department of Defense.

Trump, however, has accused the federal government of “anti-Christian bias“. He launched a task force last year to root out the purported discrimination.

Evangelical Christians form a pillar in Trump’s right-wing base of support. The demographic is a powerful force during election seasons in the US, and Trump has sought to rally Christian voters ahead of major votes.

Their views could reshape how the US Constitution is interpreted. A survey from the Pew Research Center released last week found a slight uptick in the number of US adults who believe Christianity should be named as the country’s official religion. Seventeen percent now share that view, up from 13 percent in 2024.

That said, Pew researchers noted that a majority of Americans, roughly 54 percent, still believe in the separation of church and state.

About 52 percent also said that “conservative Christians have gone too far in trying to push their religious values in the government and public schools”.